TORONTO, Aug.20, 2024 (GLOBE NEWSWIRE) -- New Horizon Aircraft (NASDAQ:HOVR), doing business as Horizon Aircraft ("Horizon Aircraft" or the "Company"), an advanced aerospace engineering company and developer of hybrid eVTOL (electric Vertical Take-Off and Landing) aircraft, today announced the pricing of an underwritten public offering of (i) 2,800,000 of its Class A ordinary shares, no par value per share, and accompanying warrants to purchase up to 2,800,000 of its Class A ordinary shares, and (ii) to certain investors, pre-funded warrants to purchase up to an aggregate of 3,000,000 Class A ordinary shares and accompanying warrants to purchase up to an aggregate of 3,000,000 Class A ordinary shares.
Each Class A ordinary share and accompanying warrant are being sold together at a combined public offering price of $0.50, and each pre-funded warrant and accompanying warrant are being sold together at a combined public offering price of $0.50.
The gross proceeds to Horizon Aircraft from the offering, before deducting the underwriting discounts and other offering expenses, are expected to be approximately $2.9 million, assuming no exercise of warrants, and up to approximately $7.25 million, assuming the warrants are exercised in full for cash.
The story "New Horizon Aircraft Announces Pricing of $2.9 Million Public Offering" has 1101 words across 28 sentences, which will take approximately 5 - 10 minutes for the average person to read.
Which news outlet covered this story?
The story "New Horizon Aircraft Announces Pricing of $2.9 Million Public Offering" was covered 4 days ago by Benzinga, a news publisher based in United States.
How trustworthy is 'Benzinga' news outlet?
Benzinga is a fully independent (privately-owned) news outlet established in 2010 that covers mostly investing and business news.
The outlet is headquartered in United States and publishes an average of 0 news stories per day.
It's most recent story was published 1 days ago.
What do people currently think of this news story?
The sentiment for this story is currently Negative, indicating that people regard this as "bad news".
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
